Turns out those banking folks are pretty smart after all.

The “extend-and-pretend” and “delay-and-pray” strategies implemented by hotel lenders waiting for the skies to turn sunny once more has been the source of some snickering around the industry during the downturn. There was a thought that this practice was simply deferring the problem—that their comeuppance would come soon enough.

Imagine if this tweet from Starwood Hotels & Resorts Worldwide’s President and CEO Frits van Paasschen popped up on your Twitter feed:

“Uh-oh. Q1 net income down 90%. Asset light worst decision ever. Office in chaos right now. #FritsFail #Starwoodruined”

The investing public has caught on to something hoteliers have long known: The hotel industry is one hardy business.

There was a lot of talk last week of the Dow Jones Industrial Average and S&P 500 breaking or approaching new highs. But the indices weren’t the only ones showing significant gains.

Oh, what might have been.

Gaylord Entertainment Company’s repositioning as a real estate investment trust (now known as Ryman Hospitality Properties) and sale of the management of its Gaylord-branded properties was one of the big hotel stories of 2012. On Friday during a meeting with analysts and investors, the REIT’s CEO, Chairman and President Colin V. Reed lifted the curtain to reveal some of the behind-the-scenes action leading to the deal.

Fool me thrice, shame on me.

At the start of 2011 and 2012, my thoughts surrounding the hotel transactions market were exactly the same: “This is the year deals are really gonna fly!” But a decline in the stock prices of real estate investment trusts and a wobbly credit market derailed deals each year.

One of Gaylord Entertainment Company’s biggest shareholders last week said it intends to vote against the company’s proposed reorganization as a real-estate investment trust and its handing off of management duties to Marriott International. So does this put the deal, which comes up for a shareholder vote next week, in danger?

The short answer: No. The reason: The biggest shareholder is already on board with the plan.